EU – China Summit; Economic Agreements

Posted on: 15 February 2012

On 14^th February, Premier Wen Jiabao held a Summit with Mr. Herman Van Rompuy, President of the European Council, and Mr. José Manuel Barroso, President of the European Commission.  Below are quotes from the Press Release, in regards to the Economic relationship between Europe and China.

 

“The two sides welcomed companies' readiness to trade and invest in each other's economies. Leaders agreed that a rich in substance EU-China investment agreement would promote and facilitate investment in both directions. Negotiations towards this agreement would include all issues of interest to either side, without prejudice to the final outcome. They agreed to work towards the start of the negotiation as soon as possible. The two sides decided to hold the first meeting of the EU-China High Tech Trade Working Group as soon as possible, so as to facilitate trade in high technology. The two sides expressed their willingness to keep the momentum of negotiation on a bilateral agreement on the protection of geographical indications. They recognized the importance of protection and enforcement of intellectual property rights and will continue to actively develop the EU-China IPR Cooperation Project III. They also stressed the importance of their discussion on issues such as standards, public procurement and subsidies.”

 

“The two sides support the G20, as the premier forum of international economic cooperation, in playing a greater role in global economic governance. Both sides believe that the G20 members need to better coordinate their macroeconomic policies to ensure strong, sustainable and balanced growth. In the coming months, the priority should be to restore consumer and investor confidence, promote economic recovery, maintain financial stability, reform international financial institutions and promote employment, especially youth employment. Both sides agreed to intensify communication and coordination and make joint efforts to implement the agreements of the G20 Cannes Summit and push for positive results at the coming Los Cabos Summit. Both sides supported the role of the Financial Stability Board in implementing commitments by the G20.”

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